Dogecoin and Shiba Inu: Dogecoin under pressure below 0.0800
Dogecoin price is in a bearish trend after a jump on Sunday to the 0.09058 level.
The Shiba Inu price is in a bearish trend for the third day in a row from 0.00000984 to 0.00000868 level.
Dogecoin chart analysis
Dogecoin price is in a bearish trend after a jump on Sunday to the 0.09058 level. On Sunday, we had a fast drop to 0.08500; on Monday, we continued all the way to 0.08000 levels. This morning, we saw an attempt at recovery, but only up to the 0.08200 level. This is where we encounter resistance, and the EMA200 creates additional pressure in that zone. From there, the Dogecoin price initiates a new bearish consolidation, breaks below 0.08000 and falls to 0.07764 level, forming this new weekly low.
Potential lower targets are 0.07700 and 0.07600 levels. We need a positive consolidation and a return above the 0.08000 level for a bullish option. Then, we would be close to testing the 0.08200 and the EMA200 moving average. The breakout above suggests that Dogecoin has the strength to start a further recovery. Potential higher targets are 0.08300 and 0.08400 levels.
Shiba Inu chart analysis
The Shiba Inu price is in a bearish trend for the third day in a row from 0.00000984 to 0.00000868 level. The previous high was formed between Saturday and Sunday. After that, we watched a pullback below 0.00000950 and the EMA200 moving average. This led to a drop to 0.00000930 early Monday. The price constantly fell yesterday, and the day closed at the 0.00000890 level.
This morning, we saw a slight recovery to the 0.00000910 level, where we encountered new resistance. Price was forced to start another pullback, breaking yesterday’s low. With that, a new high has been formed at 0.00000860, and there is a high chance that we will continue with a further pullback. Potential lower targets are 0.00000850 and 0.00000840 levels.
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